Patent Filing Prosecution and Maintenance 7.1 Except as otherwise provided in this Article 7, Licensee agrees to take responsibility for, but to consult with, the PHS in the preparation, filing, prosecution, and maintenance of any and all patent applications or patents included in the Licensed Patent Rights and shall furnish copies of relevant patent-related documents to PHS.
Patent Prosecution and Maintenance 14.1 REGENTS will diligently prosecute and maintain the United States and foreign patent applications and patents under REGENTS' PATENT RIGHTS, subject to LICENSEE’S reimbursement REGENTS’ out of pocket costs under Paragraph 14.3 below, and all patent applications and patents under REGENTS’ PATENT RIGHTS will be held in the name of REGENTS. REGENTS will have sole responsibility for retaining and instructing patent counsel, but continued use of such counsel at any point in the patent prosecution process subsequent to initial filing of a U.S. patent application covering the INVENTION shall be subject to the approval of LICENSEE. If LICENSEE rejects three of REGENTS’ choice of prosecution counsel, then REGENTS may select new prosecution counsel without LICENSEE’s consent. REGENTS shall promptly provide LICENSEE with copies of all relevant documentation so that LICENSEE may be currently informed and apprised of the continuing prosecution and LICENSEE agrees to keep this documentation confidential in accordance with Article 26. LICENSEE may comment upon such documentation, provided, however, that if LICENSEE has not commented upon such documentation in reasonable time for REGENTS to sufficiently consider LICENSEE’s comments prior to the deadline for filing a response with the relevant government patent office, REGENTS will be free to respond appropriately without consideration of LICENSEE's comments. LICENSEE and LICENSEE's patent counsel will have the right to consult with patent counsel chosen by REGENTS.
Prosecution and Maintenance of Patents Patent Costs ----------------------------------------------------
Prosecution and Maintenance Each party retains the sole right to protect at its sole discretion the Intellectual Property and Technology owned by such party, including, without limitation, deciding whether to file and prosecute applications to register patents, copyrights and mask work rights included in such Intellectual Property, whether to abandon prosecution of such applications, and whether to discontinue payment of any maintenance or renewal fees with respect to any patents included in such Intellectual Property.
General Application The rules set forth below in this Article IV shall apply for the purposes of determining each Member’s general allocable share of the items of income, gain, loss or expense of the Company comprising Net Income or Net Loss of the Company for each Fiscal Year, determining special allocations of other items of income, gain, loss and expense, and adjusting the balance of each Member’s Capital Account to reflect the aforementioned general and special allocations. For each Fiscal Year, the special allocations in Section 4.4 shall be made immediately prior to the general allocations of Section 4.3.
APPLICATION AND PARTIES BOUND 5.1 The parties bound by this General Agreement are listed in Schedule 5.
Interpretation and Application For purposes of this Chapter:
Prosecution and Maintenance of Patent Rights 4.1. GENERAL shall be responsible for the preparation, filing, prosecution and maintenance of all patent applications and patents included in PATENT RIGHTS. GENERAL shall use reasonable efforts to obtain the issuance of the broadest valid claims in such applications in such countries as METASYN may, from time to time specify. METASYN shall reimburse GENERAL for all reasonable costs incurred by GENERAL both prior to and subsequent to the LICENSE EFFECTIVE DATE for the preparation, filing, prosecution and maintenance of all PATENT RIGHTS ("COSTS") except as hereinafter provided, provided that patent counsel selected by GENERAL is acceptable to METASYN. With respect to COSTS incurred by GENERAL prior to the LICENSE EFFECTIVE DATE, GENERAL shall provide METASYN with a detailed accounting of such COSTS within thirty (30) days of the LICENSE EFFECTIVE DATE and METASYN shall reimburse GENERAL for such costs in twenty four (24) equal monthly installments commencing on the first day of the month following the month in which METASYN receives such accounting. With respect to COSTS incurred subsequent to the LICENSE EFFECTIVE DATE, GENERAL shall be reimbursed by METASYN within thirty (30) days of receipt of GENERAL's notice of payment of such COSTS and any COSTS not reimbursed within said thirty (30) days shall be charged interest at the rate of 1.5 percent per month compounded each thirty (30) days they remain unpaid. Subsequent to the LICENSE EFFECTIVE DATE, GENERAL (and by instruction, its patent counsel) shall consult with METASYN and its patent counsel as to the preparation, filing, prosecution and maintenance of such PATENT RIGHTS and shall furnish to METASYN copies of documents relevant to such preparation, filing, prosecution or maintenance sufficiently prior to filing such documents or making any payment due thereunder to allow for review and comment by METASYN. If, as a result of any such review, METASYN shall elect not to pay the expenses of any patent application or patent included in PATENT RIGHTS, METASYN shall so notify GENERAL within thirty (30) days of the receipt of such documents and shall thereby surrender its rights under such patent application or patent, provided, however, that METASYN shall remain obligated to reimburse GENERAL for any costs incurred with respect to such patent application or patent prior to said election.
Provisions of General Application (a) All accounting terms not specifically defined herein shall be construed in accordance with GAAP.
Application and Operation of Agreement Clause No. Title